We’ve heard this story before.
Much like taxpayer-backed Abound Solar – which just revealed it would declare bankruptcy – General Electric announced last week it would suspend construction of a solar panel manufacturing plant in Colorado. The excuse given was that GE plans to focus on research and development to improve the technology and efficiency of the panels it wants to produce.
“With the re-focus on technology, we’re sizing our team accordingly and really focusing our people on the technology side as we take this pause in the manufacturing build-out,” said Lindsay Theile, communications leader for GE’s renewable energy business, to the Web site Recharge.
That’s what officials at Abound said in February when the company – also based in the Centennial State – lopped off 70 percent of its employees while it allegedly performed upgrades to its plant to manufacture more efficient solar panels. That move followed an … Read More ➡
The suspicions of Oklahoma Sen. James Inhofe were correct: Rather than sitting before the House Energy and Commerce Committee three weeks ago to explain the ways he “crucified” oil and natural gas companies, instead Al Armendariz – who cancelled his appearance at the last minute – met with the Sierra Club for a job interview.
This time the recently resigned EPA’s Region 6 administrator will eagerly attack another fossil fuel, joining the litigious environmental group as part of its “Beyond Coal” campaign. If there was any question that Armendariz unfairly regulated the gas and oil businesses under his authority in Texas, Oklahoma, Louisiana and other neighboring states, the Sierra Club announcement left no doubt.
“I know how important it is to transition to cleaner sources of energy that don’t pollute the air that our children breathe,” he said, “and I’m proud to be working on a campaign with … Read More ➡
The next time a green energy company announces it is intentionally slowing down for a transition phase, or that a technology breakthrough is just around the corner, or that all that’s needed for future success is just a little more taxpayer “investment” – don’t believe it. It’s likely a lie.
The latest example is Loveland, Colo.-based Abound Solar, which only four months ago laid off 70 percent of its employees in what it said was a plan to upgrade its plant to manufacture more efficient solar panels, with plans to restore production levels and rehire most employees within six to nine months. Yesterday – hidden under the news that the Supreme Court upheld Obamacare – the company released a statement that said it would end operations next week, liquidate, and make unemployed its remaining 125 workers.
The Department of Energy had awarded Abound a $400 million loan guarantee, $70 … Read More ➡
Highlighting that electric vehicles are no more than a scheme to extract money from taxpayers rather than sell a viable product, the producer of a dismal-(but still highest) selling all-electric car in the U.S. confirmed they wouldn’t exist at all without government.
Francois Bancon, Nissan’s global general manager of product strategy and planning, could not have been more clear in a discussion with the media at the Australia launch of the all-electric Leaf. In the U.S., taxpayers are backing a $1.4 billion loan guarantee for Nissan to retrofit a Tennessee manufacturing plant to produce the Leaf.
“Yeah, [government support] is the key,” Bancon said in an interview reported by Web site Car Advice. “This technology is expensive; the car is expensive.
“Where we sell the best is where the governments offer their support…which is not only the incentive for the direct purchase, but also they are investing … Read More ➡
The top private equity raiser for troubled electric automaker Fisker Automotive, which has been the subject of investigations by the Financial Industry Regulatory Authority (FINRA) and Securities and Exchange Commission, has reportedly removed its co-founder and CEO.
Crain’s Chicago Business, citing “a company insider,” reported Friday that Advanced Equities Inc. has reached an agreement with Dwight Badger for him to leave the investment firm. The separation follows a demand by a FINRA arbitration panel for Advanced Equities to pay $4.5 million to one of its former brokers, John Galinsky, over breach of contract claims. Galinsky brought his complaint against the firm, Badger, and his co-founding partner, Keith Daubenspeck.
“The panel finds that Respondents exhibited a reckless disregard for the warrant rights of the broker and breached their fiduciary duties to the broker,” the FINRA dispute resolution said.
Advanced Equities raised the financing for Fisker, which has boasted that … Read More ➡
After experiments on humans were conducted that exposed them to airborne particulates considered to be lethal, a sound-science advocate has accused physician researchers working for the Environmental Protection Agency of misconduct and violations of the Hippocratic Oath.
Steve Milloy, publisher of Junkscience.com and author of Green Hell: How Environmentalists Plan to Control Your Life and What You Can Do to Stop Them, filed a complaint with the North Carolina Medical Board last week that accused three doctors in the state – two employed by EPA (Dr. Andrew Ghio and Dr. Wayne Cascio) and one by the University of North Carolina (Dr. Eugene Chung) – of intentionally exposing test subjects to inhalable pollutants that the agency considers both cancer- and death-causing.
“During these experiments, the study subjects were intentionally exposed to airborne fine particulate matter (“PM2.5”) at levels ranging from 41.54 micrograms per cubic meter to 750.83 micrograms … Read More ➡
This story has been updated at the end.
Seems like every time stimulus recipient battery-maker A123 Systems suffers bad news or a stock price hit, its leaders miraculously produce great news via press release that temporarily bumps shares higher.
The latest example came yesterday, when A123 announced a “technological breakthrough” called Nanophosphate EXT that officials claim would reduce or eliminate the need for cooling systems for overheating batteries, and lower the cost of electric vehicle batteries by $600. This followed news that A123 plans to hire 400 employees (125 were laid off in November) in the coming months, thanks to new contracts it has won. Apparently Wall Street was unjustifiably non-skeptical, as heavily subsidized A123 saw its stock price shoot up from $1.04 to $1.58 yesterday. A123 was given $249.1 million in stimulus funds to help launch two battery-manufacturing plants in Michigan, and also received grants and tax credits from … Read More ➡
Enthusiasts can’t overcome their amazement at the innovation of electric cars – technology that is 100-plus years old.
In Friday’s edition of the Vancouver Sun, writer Andrew McCredie – who is tooling around in a modern, all-electric Nissan Leaf and blogging about it – marveled at the 1912 electric car produced by the Anderson Car Company, which was on public display at the local “Electrafest” over the weekend. McCredie, seemingly blinded by the nostalgia surrounding the car, ignored the obvious: that its cost, range, and efficiency illustrate that there has been no significant technological advancement, in practical terms for American usefulness, with today’s electric vehicles.
“Perhaps most amazing is that electric cars were, in fact, the norm back in 1912, as gasoline engines were still very much in their infancy…,” McCredie wrote. “This particular car was purchased new by a certain Dr. French in 1912 for the princely … Read More ➡
As President Obama’s Environmental Protection Agency continues to receive much-needed scrutiny as it conducts its reign of terror (“crucifying”) on fossil fuel industries, yet another renegade regional administrator has been shown in full alliance with environmental extremists in pursuit of regulations to kill oil and coal. Natural gas isn’t far down the hit list.
This time it’s Region 5 Administrator Susan Hedman, a veteran attorney who has litigated environmental cases as part of the University of Maryland Environmental Law Center, as counsel for the Environmental Law and Policy Center, and as senior assistant attorney general in the Illinois Attorney General’s office. Last August she joined dozens of activists outside her Chicago office to celebrate the expected implementation of EPA’s Mercury Air Toxics Standard, which was released in December. Bloomberg reported that the rule would cost utilities an estimated $9.6 billion per year in compliance costs, fulfilling the president’s … Read More ➡
Renewable-loving Los Angeles is showing that even the power of billions of dollars in taxpayer “stimulus” cannot overcome the dominant hand of government regulation, and ironically it’s costing President Obama more green jobs.
One of the darlings of the Department of Energy’s Loan Guarantee Program, First Solar, has seen its stock price take a drubbing, laid off thousands of workers, and left its leadership – with significant influence from Walmart’s Walton family – scrambling to save the company. The latest stumble has led to another setback of worker inactivity at First Solar’s Antelope Valley Solar Ranch One project in California, approximately 75 miles north of downtown Los Angeles, despite $646 million in taxpayer-guaranteed loans. At issue is a disagreement with Los Angeles County safety inspector over electrical installations and whether they meet standards.
According to one “Green tech” Web site, approximately half of the workers … Read More ➡